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  • Home
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  • The benefits of downsizing your home

Last updated 11 February 2025

The benefits of downsizing your home

Moving from a family home into a leasehold or rented retirement property for those over 55 can be daunting, but downsizing to a purpose-built home or apartment can have a range of advantages.

If you no longer need some of the space you have, downsizing means you can release capital and have more money to enjoy living in later life. Added to this, it’s a great way to reduce utility bills, council tax and the cost of maintaining a larger property.

Two people sat talkingPerhaps most importantly, moving and becoming part of a community offers more opportunities to make friends, socialise and have the peace of mind that help is there should you need it. 

Downsizing tips guide

Our Designing for Downsizing guide was created in partnership with Emma Gurner, founder of interior design firm Folds Inside. Inside you will find 10 useful tips and tricks on how to downsize and retain the character of your familiar family home.

Download our Designing for Downsizing guide

What does downsizing mean?

When people talk about downsizing a house they are referring to moving from a larger residence to a smaller one. Also sometimes called “rightsizing”, the process typically involves selling or renting out a larger home and relocating to a smaller, more manageable property.

What type of property do people move into when downsizing? 

There are various types of properties you can consider when downsizing. For example, you might choose a bungalow for better accessibility, opt for a flat to lower your expenses on bills and maintenance, or simply move to a smaller house with a more manageable garden and fewer bedrooms once children have left home.

At Anchor our properties for over 55’s come in all shapes and sizes, with both rented and leasehold properties available to suit all kinds of needs. 

When is the best time to downsize your house?

People choose to downsize for various reasons. For some, it might be due to a feeling of having an “empty nest” after children move out or a realisation that their current house requires too much upkeep. Others might downsize due to changes in personal circumstance such as divorce, new accessibility issues, or the loss of a loved one.

You can downsize at any time, but it's important to do some research beforehand. Consider where you want to live, and what type of property would suit your needs, and realistically assess how much furniture and belongings you own.

Piles of clothesMany people plan to downsize eventually but are often surprised by how much they've accumulated over the years. As soon as you start thinking about moving, it's a good idea to begin deciding what you want to keep. Anything that can be discarded or donated should be dealt with before you put your home on the market. 

Downsizing costs for homeowners

If you own your current property, you must consider not only the costs of purchasing a new home but also the expenses involved in selling your current one. These costs can include conveyancing, which covers legal fees and disbursements, removal costs, a deposit, Stamp Duty, estate agent fees, and mortgage lender fees.

It's important to thoroughly research and prepare for any additional costs that may arise during the moving process.

Advantages of downsizing

Downsizing has a host of advantages if you are selling your home and looking to move into one of our leasehold properties or rented apartments. 

Downsizing house to save money

Choosing to downsize and releasing capital can enable a significant lifestyle change and offer the opportunity to reduce your outgoings on utility bills, council tax, repairs and maintenance which can offer peace of mind, given the rising costs of these items. Additionally, options like Older Person's Shared Ownership allows individuals over 55 to purchase a share of a property and pay rent on the remaining share, offering an affordable way to own a home.

Practical benefits

In addition, there are the practical benefits of downsizing your home and moving to a smaller property. Properties designed for those over 55 are easier to manage and maintain, particularly should your degree of mobility start to lessen.

If you currently rent a property or are living with family, then moving into one of Anchor’s rented apartments for the over 55s could be the ideal solution for you. 

Two woman sat talking on a benchProperty maintenance

Whether you choose to buy or rent through Anchor, you can continue to enjoy your independence in our purpose-built studios, bungalows and apartments with none of the worries of repairs and maintenance. And for that extra peace of mind, there is an on-site manager and 24 hour emergency assistance.

Building a community

Many people find that downsizing to a retirement apartment can also offer them a warm and friendly community of new people. Anchor’s properties have a range of communal facilities such as lounges and kitchens, handy for entertaining guests or celebrating special occasions. Other shared facilities can include gardens, conservatories, a laundry to free up space in your kitchen and in many locations, a guest room for overnight visitors. Anchor is also pet friendly so you don’t have to say goodbye to your loyal companion when you downsize - they can move in too.

Thinking of downsizing your house? Anchor can help

To speak to someone about Anchor’s services and for help deciding which of our housing or care home options best suit you, please contact us.

Guides on making decisions and moving

Are next of kin responsible for care home fees?

Are next of kin responsible for care home fees?

Are next of kin responsible for care home fees? Learn about family responsibility, understanding the legal responsibilities of being a guarantor, and managing care home fees here.

Understanding CQC ratings

Understanding CQC ratings

Learn what the Care Quality Commission is, how they assess the performance of care homes, what their ratings mean, and how you can find their inspection reports online in our free online guide.

Current home suitability and moving out

Current home suitability and moving out

When considering their housing options many people start by spending time thinking about how suitable their current home is for their future and the possible benefits of moving to another property.

The benefits of downsizing your home

The benefits of downsizing your home

Discover the benefits of downsizing your home, from reducing costs and maintenance to simplifying your lifestyle and improving accessibility.

A warm welcome

A warm welcome

We understand you’ll have many questions about finding a care home for you or a loved one and we’re here to support you every step of the way.

Making the right kind of move

Making the right kind of move

When considering retiring some people can decide that their current house may not be right for their future. Read about the range of factors to consider when you start looking for a new home.

Guide to planning for later life and discussing retirement plans with loved ones

Guide to planning for later life and discussing retirement plans with loved ones

At Anchor, we know the way to get the most out of your retirement years is to think ahead, talk about it with your family and friends – and do some planning. Find out more.

Checking care home quality standards

Checking care home quality standards

The independent regulator of health and social care in England is called the Care Quality Commission. Find out what they do and how their reports can help you choose a care home.

Care home selection checklist

Care home selection checklist

The care home selection process can seem a confusing and daunting task so Anchor have created a checklist to help you choose between the care homes you visit.

Preparing for full time care with a respite break

Preparing for full time care with a respite break

Respite care can be a good way for carers and loved ones to prepare for the transition into full time residential care. Find more information about short term care breaks here.

What is life like in a care home?

What is life like in a care home?

Find out about the important role social activities, catering and health care services play in care homes as well as the influence visitors have on everyday life for residents.

Which type of care home would suit you?

Which type of care home would suit you?

Different care homes offer different levels of care so it is important to consider your needs before choosing a home. Find out more about the types of care available.

Is a care home the right move?

Is a care home the right move?

Before deciding on a move to a care home, it’s important to know the difference between the main types of accommodation available for older people. Find out more about your housing options.

Care options in retirement villages

Care options in retirement villages

Most retirement villages offer tailored care and assisted living, with the choice of at-home care, domiciliary care or dementia care if you ever need it.

Guide to choosing a care home

Guide to choosing a care home

Our guide to choosing a care home is designed to help you and your loved ones consider your choices carefully and make the right decision, at the right time, for you.

What to expect from a respite care break

What to expect from a respite care break

Our guide on what to expect from respite care helps show what day to day life is like for both residents and carers during a respite break.

Life in a retirement village

Life in a retirement village

Retirement village living can be tailored to your needs, with varying facilities and events available at each one.

Choosing the right retirement village for you

Choosing the right retirement village for you

When choosing a retirement village it may be useful to consider what facilities you are most interested in, any support you may need in the future, get recommendations and go to open days.

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